Ripple's Chief Legal Officer, Stuart Alderoty, has strongly denied allegations that former President Donald Trump criticized Kamala Harris for receiving financial support from Ripple executives during her campaign. Alderoty dismissed these claims as "pure fiction," addressing unverified reports that Trump confronted a company, speculated to be Ripple, for backing Harris instead of his campaign. The rumors, first reported by various outlets, suggest that Trump accused Ripple during a private conversation of not supporting his campaign. According to an Axios report , Trump allegedly said, “When I needed you, where were you? You weren’t with me and maybe you were with [Kamala Harris].” The publication did not identify the company, but speculation linked the statement to Ripple. The controversy focuses on Ripple co-founder Chris Larsen, who donated $11 million in XRP to Harris’s campaign in October. Larsen explained his support by saying, “I believe Kamala Harris will ensure that American technology dominates the world,” and made two substantial donations—a $10 million contribution followed by $1 million in XRP. These donations sparked debates about Ripple’s potential political motivations. Pro-XRP lawyer Fred Rispoli commented on the donations, suggesting that Larsen’s motivations might be practical or strategic, adding that the donation represented just 0.0323% of Larsen’s wealth. Ripple CEO Brad Garlinghouse defended Larsen’s decision, emphasizing the company’s commitment to bipartisan cooperation for crypto-friendly regulations. In response to the allegations, Alderoty posted on X (formerly Twitter), stating, “Wow, unnamed sources? Here’s a named source: me. The rumors published by this 3rd-tier crypto rag are pure fiction. Completely made up. Wonder who’s behind this?” Alderoty dismissed the claims as baseless , questioning the credibility of reports citing anonymous insiders. While Ripple was addressing these rumors, some XRP critics on X accused the company of benefiting from unverified reports that portray the network positively. One user noted that Ripple hasn’t refuted similar speculative claims, such as Bank of America’s alleged use of XRP or its extensive NDAs, which have fueled bullish sentiments around the cryptocurrency. Adding a twist, Ripple announced plans to donate $5 million in XRP to Trump’s inauguration fund. This move suggests an effort to align with Trump’s administration, which was expected to support pro-crypto policies. Despite the controversy, Ripple’s XRP has experienced an 8% price increase, trading at $3.33. Analysts attribute this surge to renewed attention on Ripple's activities and its strategic positioning within the blockchain industry and political landscape. While the allegations remain unsubstantiated, Ripple’s actions and its executives' political donations continue to fuel debates, drawing attention to the company’s role in the blockchain sector.
